It’s been a while since our last Sanford market update and as you might have noticed A LOT has happened! A lot as in, people just keep moving to Florida (probably because they still haven’t experienced a real Florida summer, so… wait for it…), prices have gone up beyond what most experts predicted (no bubble!) and inventory remains at a historic low! It would only take a few weeks to sell ALL the homes in the market, and get this: at some point there were more real estate agents active in the Orlando area than homes in the market (where are my emojis when I need them, haha!).
Click here to read our latest article on the real estate market in general and a great explanation why we are not currently in a bubble (as much as it seems like it, because, yes, it IS crazy out here!).
We know, you are curious about what’s selling in Sanford so we’ve compiled the most important real estate market stats for Zip Codes 32771 and 32773 right here – and in simple and easy to digest format!
For those who want to dig deeper, scroll down all the way to download the complete sortable data spreadsheet!
But first things first.
How is the Market Doing?
Just as in previous months, we can confirm that April 2021 has been yet another active month!
(Low inventory x low interest rates) + Out of State Buyers = BUYING FRENZY (true story!)
We believe this trend will continue as we’re headed into summer, which is not just literally HOT in Florida. Serious Buyers with a plan of action should not despair, because despite the incredibly low inventory, there is a house for you – if you’re willing and able to do what it take, i.e. pay the price. Having said that, Buyers who are still on the fence and not quite sure about their goals will have a very hard time, especially in this market. It might even be better to wait until you figure things out because this market is not for the faint at heart.
The good news for Buyers is that interest rates are still low! That means, as mentioned above, it’s all about being prepared and ready when that dream home pops up! While it’s not nice to be up against other buyers in a multiple offer situation, right now it’s worth to go all in. Because let’s face it, securing a fixed interest rate as low as 2.99% on a 30 year mortgage for example will allow you to buy a lot more home than whatever you could have gotten in previous years.
A note to prospective Sellers: give those buyers the homes!! If you have been on the fence about selling your home, we do believe that now would be an excellent time. If you’re curious what your home could sell for in today’s market, we will gladly provide you with a free home value estimate so you can make an informed decision.
Good News for Sellers who want to Move Up (or downsize)
Thanks to a new Bridge Loan Program Homeowners who want to move up but need to first sell their home are now able to compete as fully qualified Buyers in this real estate game (no more contingency offers that could get turned down!). If you are interested in this program, we are real estate agents certified in this program who can put you in touch with the right lender. Please contact us here and ask us about the details on this new Bridge Loan.
So without further ado, let’s look at April’s real estate activity in Sanford…
Sanford’s latest Real Estate Numbers
In the month of April 2021, 162 homes sold on MLS. That’s 11 homes more than in March 2021 and 52 homes more than in April of 2020, but keep in mind that things were a bit slow at the beginning of the pandemic last year. We still see home values going strong, and homes that enter the market selling quickly due to the above mentioned still extremely low inventory and historically low interest rates.
Click here to view them all Sanford real estate sales on a map and find out more details about each home.
- The average sales price for homes (including Single Family Homes, Townhomes and Condos) sold in April 2021 in Sanford, FL was $363,049 (up from $312,964 in March 2021). For comparison, in April 2020 the average sales price was $248,304, so prices increased by a whopping 46.2% compared to the previous year!
- The average sold price per square foot was $173.57 (up from $159.30 last month).
- The average days on market was 29 days (down from 34 days last month).
- The lowest priced home in Sanford was a 1 bedroom 1 bathroom Condo of 744 Square Feet. It sold for $45,000.
- The highest priced home in Sanford last month was a 7 bedrooms, 6 bathrooms Single Family Home of 6,463 Square Feet. It sold for $1,650,000.
As usual, please let us know if you have any questions or would like more information about any of these homes. Jose and I would love to help you with all your real estate needs. You can call or text us at 407-340-6458 or contact us here!
Look what’s pending in Sanford:
Let’s take a quick look at a home that is currently pending in Sanford. We absolutely LOVE this Absolute Stunner! Located in Historic Downtown Sanford… Check it out here!
For all our beloved real estate nerds (like us)…
Download the sortable spreadsheet here (Excel Format)
Meanwhile in Orlando…
And here a quick look at the overall real estate activity in Orlando last month (March 2021).